Marine Industry headwinds continue for now - MarineBusinessWorld North America newsletter
by Peter Rendle 20 Aug 10:00 PDT
Consumer Price Index © National Marine Manufacturers Association
U.S. inflation picked up in July, with the Consumer Price Index rising to 2.7% year-over-year, according to the latest Bureau of Labor Statistics data. Core inflation, which strips out volatile food and energy prices, climbed 3.1%, increasing at the fastest annual pace in five months after one of the largest monthly jumps this year.
On a month-to-month basis, overall inflation rose 0.2%, while core prices increased 0.3%, up from 0.2% in June. Notably, recreation-related prices, a category that includes some boating expenses, rose 0.4% from June to July.
Meanwhile, the NMMA's latest Monthly Recreational Boating Industry Data Summary, which highlights data on a 12 month rolling basis, June 2024 through May 2025, reflects ongoing headwinds in retail powerboat unit sales as economic pressures remain a key concern. New powerboat retail unit sales declined 10.2% year-to-date (Jan.-May 2025), with 98,065 units sold compared to 109,212 in the same period last year.
New products added to Section 232 Tariffs on steel and aluminum. Last week, the Trump administration added hundreds of HTS codes to the Sec. 232 list of 50% steel and aluminum tariffs. Among the impacted products are various forms of knives, as well as potentially others imported by fishing-related companies. See the full list of HTS codes now included under Section 232 [PDF].
'The Egret Flats Boat,' well-known for its efficient hull design, self-bailing features, and soft ride has returned its entire production line to Florida. Established in the 90s in Ft. Lauderdale, Egret has changed ownership twice over the decades. Building on the success of the first two models, the 189 and the 167, previous owner Frank Afshari expanded the fleet to seven different models at his production facility in Washington, North Carolina.
Vision Marine Technologies Inc (NASDAQ: VMAR), a leader in premium on water experiences and the owner of Florida based dealership network Nautical Ventures, announced that Nautical Ventures has entered into a Letter of Intent with Nimbus Boats USA to exclusively distribute Nimbus powerboats on Florida's West Coast.
The Coast Guard Foundation has been named the official charitable partner of the Chicago International Boat Show, a new event coming to Navy Pier Marina August 22-24. The event will feature more than 150 luxury boats and yachts, 70 exhibitors showcasing the latest in marine technology and services, and a full schedule of live demos, workshops, and family-friendly activities.
Catalina Yachts has announced a landmark design collaboration with Tripp Design Naval Architecture for the all-new Catalina 48. As Catalina's first production 48-footer, this project marks more than a model launch, it marks the beginning of a new chapter in the company's story, where American design, engineering, and craftsmanship meet contemporary elegance on the water.
Lastly but definitely not least, the industry is remembering Bill Healey. The passing of a legend. William "Bill" J. Healey of Cape May and Mays Landing, N.J., passed away peacefully surrounded by his loving family on August 14 from long-term complications of a stroke. He was 97. The former president of the Viking Yacht Company in New Gretna, N.J., which he founded with his late brother in 1964, Healey built a boat manufacturing empire in the recreational marine industry. He relentlessly encouraged and supported legions of dedicated shipwrights.
More marine industry news covering our region at www.marinebusinessworld.com/NorthAmerica
Peter Rendle - peter.rendle@worldmarine.media